How many loans can you have?
Applying for a loan is very easy today.
You almost don’t have to get out of your house anymore. Very easy and fast. In recent years, banks have used a great deal to get customers to do as much as possible via the internet. Online banking has been very popular for some time now and those services are constantly expanding. Now a lot is already possible to do via the smartphone. The apps are very user-friendly and payments go very quickly. You can also use the internet to search for a loan. The banks allow you to perform a loan simulation through their site. Do you already know how many loans you can have at the same time?
You can also calculate that.
Every customer at a bank can spend up to 1/3 of his income on fixed expenses. Those fixed expenses are for bank loans and alimony. If you do not have either, you take your full wage and you deduct one third of it. You can therefore spend that amount on one or more loans. In most cases and with a loan with two partners you can have a housing loan, car loan and possibly a third loan at the same time. Everything depends on the amount of your income and how much you want to borrow, of course. But if you are planting well or are good earners, then that is certainly possible.
It is also questionable whether you want to have all those loans and take out them at the same time. A loan is a commitment with a bank, so you have to pay it off monthly. That creates some financial pressure and that can sometimes go wrong. If you suddenly have an unexpected cost that you can no longer pay because the monthly repayment of the loans is too high.
So be sure to think carefully before taking out a loan.
For a home or a car you can hardly do more than borrow for it. Those amounts are too high to pay in one go. But for smaller purchases you better think twice. You also have to pay the costs on a loan. And for several loans at the same time that amount can rise. Then it is better to save something and buy it from your own resources.
It is therefore possible to have multiple loans and even with different banks. The payment is then made via direct debit at the bank where your current account is located. That all happens automatically, so you don’t have to do much about it.